Author: Paul Ploumis05 Jun 2015 Last updated at 01:51:09 GMT
BEIJING (Scrap Monster): The Chinese imports of tin concentrates reversed its declining trend and hit record highs during the month of April this year. The country’s tin concentrate imports had declined continuously during the past four months. The overall tin imports too increased sharply during the month.
According to Chinese customs data, the tin concentrate imports during April this year surged higher by 193% over the previous year to total 33,595 tonnes in gross weight. Meantime, the cumulative tin concentrate imports by the country during the initial four-month period of the year totaled 91,336 tonnes in gross weight. The imports during the period were 84% higher when matched with imports during the corresponding four-month period in 2014.
The Chinese refined tin imports during April ’15 totaled 1,070 tonnes, 20% higher when compared with the imports during the previous month. The imports during the month were the highest in past twelve months. Also, Chinese refined tin imports during January to April this year witnessed an uptick of 9% year-on-year to 2,429 tonnes.
The largest tin exporter to China during April ‘15 was Myanmar. The imports from Myanmar totaled 33,095 tonnes in gross weight during April, accounting for bulk of the tin imports by the country during the month. According to local exporters, the rise in tin shipments from Myanmar is on account of stock clearing ahead of the rainy season that starts in June and extends until October. Tin production and exports from Myanmar is likely to remain at lower levels during the rainy season.
On the other hand, Chinese tin exports dropped drastically during the initial four-month period of the year. As per customs statistics, the country’s tin exports totaled only 24 tonnes during this period.